UnknownUnicorn772665

USDJPY Short Trade Set Up *DAILY TREND 4hr TF ENTRY*

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
Nice set up forming on USDJPY with multiple timeframes coming in to alignment.

Daily timeframe is producing a new lower high with price rejecting the fib 0, 786 retracement level and a previous bullish trendline to act as resistance.

I will wait for the 4hr chart to produce a trend reversal set up before entering. I want a lower low and the bullish 4hr trendline to be broken before looking for short position entries on the next pullback.

The trade won't be valid for me until this happens.

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